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Horn_Spanker

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Retail sites for silver have been overwhelmed with demand for bars and coins, suggesting the frenzy that roiled commodities markets last week is spilling over into physical assets.

Dealers including Money Metals, SD Bullion, JM Bullion and Apmex said over the weekend they were unable to process orders until Asian markets opened because of unprecedented demand. Buying continued on Monday, and spot silver and futures jumped to breach $30 an ounce.

“Pretty much physical silver is almost all gone in terms of live inventory,” Tyler Wall, president and chief executive officer at SD Bullion, said in a Bloomberg TV interview. “Currently we’re seeing the premium -- the price you pay over spot to get actual physical silver in your hands -- is skyrocketing. Most stuff on our website’s at least 30% over spot and we can’t source it for much less than that right now from our wholesalers.”

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https://www.bloomberg.com/news/articles/2021-01-31/silver-retail-sites-grind-to-halt-as-reddit-horde-moves-to-coins

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16 minutes ago, bernorange said:

You know there are some fugly priced-double-what-the-metal-is-worth silver widgets finally selling now. I expect to see Franklin Mint chess set ads at this rate.

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